CVB Financial Corporation (NASDAQ:CVBF – Get Free Report) announced a quarterly dividend on Wednesday, June 24th. Shareholders of record on Thursday, July 9th will be given a dividend of 0.20 per share by the financial services provider on Friday, July 24th. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date is Thursday, July 9th.
CVB Financial has decreased its dividend payment by an average of 0.0%per year over the last three years. CVB Financial has a payout ratio of 51.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect CVB Financial to earn $1.92 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 41.7%.
CVB Financial Stock Performance
NASDAQ CVBF opened at $22.04 on Thursday. The company’s fifty day moving average is $20.46 and its two-hundred day moving average is $19.97. CVB Financial has a 52-week low of $17.94 and a 52-week high of $22.14. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 14.50 and a beta of 0.66.
Insiders Place Their Bets
In other CVB Financial news, Director George A. Borba, Jr. purchased 25,187 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $19.85 per share, with a total value of $499,961.95. Following the completion of the transaction, the director directly owned 846,308 shares of the company’s stock, valued at approximately $16,799,213.80. This trade represents a 3.07% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On CVB Financial
Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of CVB Financial by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,613,287 shares of the financial services provider’s stock worth $147,620,000 after buying an additional 331,307 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in CVB Financial by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,488,821 shares of the financial services provider’s stock valued at $102,092,000 after buying an additional 67,563 shares in the last quarter. HoldCo Asset Management LP grew its position in CVB Financial by 17,051.0% in the fourth quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock valued at $41,366,000 after acquiring an additional 2,211,005 shares during the period. Victory Capital Management Inc. grew its position in CVB Financial by 3.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,031,381 shares of the financial services provider’s stock valued at $37,784,000 after acquiring an additional 74,914 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in CVB Financial by 2.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,739,743 shares of the financial services provider’s stock worth $32,359,000 after acquiring an additional 39,771 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors.
CVB Financial Company Profile
CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.
The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.
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